Montana Life & Health Insurance Guaranty Association PO Box 951 / Oconomowoc, WI 53066-0951 Home About Us FAQs Receiverships Additional Info Links Terms of Use Contact Us Frequently Asked Questions      Are all policies fully protected? Not always. If your insurance company fails, the maximum amount of protection provided by the Montana Guaranty Association for each type of policy, no matter how many of that type of policy of your company provides protection for you, is: Life Insurance Death Benefits: $300,000 per insured life Cash Surrender Values: $100,000 per insured life Health Insurance Long Term Care Insurance Benefits: $300,000 per insured life Disability Insurance Benefits: $300,000 per insured life Hospital, Medical, Surgical Benefits: $500,000 per insured life Other Health Insurance Benefits: $100,000 per insured life Annuities Annuity Benefits (Present Value): $100,000 per owner Allocated Group Annuity Benefits: $100,000 per certificate holder Structured Settlement Annuity: $100,000 per payee There are also aggregate limits on the total amount of protection provided in respect to one individual resident in the insolvency of a company. The basic limit is $300,000 in protection in the aggregate for all types of contracts and benefits described above. However, that limit is increased to a maximum of $500,000 in situations where covered health insurance claims exceed $300,000.   NOTE: This information is not intended as legal advice, and no liability is assumed in connection with its use. The applicable state guaranty association statute is the controlling authority, regardless of any information presented on this site. Users should seek advice from a qualified attorney and should not rely on this compilation when considering any questions relating to guaranty association coverage.   [ Back to FAQ list ]